Search and browse 24792 apartments under $1,200 available for rent in Chicago, IL. With apartments that span the entire city, you will find an apartment in Chicago for just the right price. During your search, sort your favorite apartments under $1,200 by one of our listed amenities — covered parking, in-unit washer and dryer, a rooftop pool, a modern fitness center, an updated kitchen, energy efficient appliances, smart technology, online leasing, payments, and more. Want to tour a property? Schedule a tour online and you’ll be moving in to your new Chicago apartment before you know it.
Welcome to the March 2021 Chicago Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the March 2021 key findings and figures for the Chicago rental landscape.
Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Chicago and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Chicago rent prices in the chart below.
Chicago rent prices decreased over the last month. From February to March, the city experienced a -0.48% decrease for the price of a one-bedroom apartment. The rent price for a Chicago one-bedroom apartments currently stands at $1,676.0.
When we take a look at the two-bedroom comparison from February to March, Chicago experienced a 0.2% increase for the price of a two-bedroom apartment. The rent price for a Chicago two-bedroom apartments currently stands at $2,000.0.
Rent prices have decreased in Chicago over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 4 of the Chicago suburbs increased last month. On the other hand, 3 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rent increased in Oak Park, IL, Naperville, IL, Lombard, IL, Wheeling, IL .
Rent decreased in Hoffman Estates, IL, Evanston, IL, Arlington Heights, IL.
1 suburb is currently priced higher than the city of Chicago.
6 suburbs are currently priced lower than the city of Chicago.
Rent growth in Chicago over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Chicago rent prices appear to be relatively affordable for local residents.
The price for a Chicago one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.
You can view the full rundown of Rentable's March 2021 National Apartment Report and data set here.
For more information about Chicago and surrounding area rent prices, take a look at the complete data set below.
|1 BR March||1 BR M/M % Change||2 BR March||2 BR M/M % Change|
|Oak Park, IL||$1,112.0||0.91%||$1,585.0||-3.53%|
|Hoffman Estates, IL||$1,360.0||-0.07%||$1,558.0||-0.32%|
|Arlington Heights, IL||$1,125.0||-0.44%||$1,467.0||1.03%|
Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.